NBFCs Must Screen Accounts Against Updated UN Terror List
Current · Source: Reserve Bank of India · RBI/2010-11/528 · issued 16 May 2011 · ~1 min read
Quick answerRBI directs all NBFCs and RNBCs to update their records with the latest UN 1267 Committee list of Al-Qaida/Taliban-linked individuals and entities, and screen both new and existing accounts against it.
Sanctions-list safety note. This circular refers to a specific UN Security Council / UAPA designated-entities list update as it stood on the date above — sanctions lists change often, and a newer update almost certainly exists today. Never use this page, or any single dated circular, as your current screening list. Always screen against the live, current list at the official UAPA proscribed-organisations list and the UN Consolidated List, and confirm the obligations for your bank on the official rbi.org.in source below.
The rule, in the simplest words
NBFCs (companies that give loans but are not banks) and RNBCs (a special type of NBFC) must check every new customer against a special UN list of bad people linked to terrorist groups like Al-Qaida and Taliban.
Before opening a new account, the company must make sure the customer's name is NOT on that UN list.
The company must also look at all existing accounts to see if any belong to people or groups on that list.
If a match is found, the company must report it to the right authorities as per rules.
How it plays out — a real example
An NBFC compliance officer in Indore, Priya, updates her NBFC's system with the latest UN 1267 list. Before approving a new loan for a customer, she checks the name against the list and finds no match, so she proceeds. Later, she reviews old accounts and spots one linked to a listed entity, immediately reporting it to her compliance team.
What changed
The UN Security Council's 1267 Committee issued a note on March 24, 2011, updating the consolidated list of individuals and entities linked to Al-Qaida and the Taliban. RBI has now advised all NBFCs and RNBCs to incorporate these changes into their screening processes.
What it means for you
NBFCs and RNBCs must ensure no new account is opened for any person or entity on the updated list, and all existing accounts must be reviewed to identify any matches. Non-compliance could lead to regulatory action and reputational risk, as these measures are part of India's commitment to global counter-terrorism financing.
What you must do
Update your internal databases with the latest consolidated list from the UN 1267 Committee website.
Screen all new account applications against the updated list before onboarding.
Conduct a thorough review of all existing accounts to identify any linked to listed individuals or entities.
Report any matches to the appropriate authorities as per regulatory guidelines.
Who it affects
All Non-Banking Financial Companies (NBFCs), All Residuary Non-Banking Companies (RNBCs)
❓ Common questions
Where can I find the updated consolidated list?
The complete list is available on the UN website at http://www.un.org/sc/committees/1267/consolist.shtml.
What should I do if I find an existing account linked to a listed entity?
You must report the account to the relevant authorities immediately and take necessary action as per RBI and UN guidelines.
📜 Read the original circular — full text as issued by RBI
RBI/2010-11/528
DNBS(PD).CC. No 219 /03.10.42/2010-11
May 16, 2011
All Non Banking Financial Companies /
Residuary Non Banking Companies
Dear Sir,
List of Terrorist Individuals / Organisations- under UNSCR 1267 (1999) and
1822(2008) on Taliban /AL-Qaida Organisation
The Chairman of UN Security Council's 1267 Committee has issued a note on March 24, 2011 regarding changes made in the consolidated List of Individuals and entities linked to Al-Qaida and Taliban ( copy enclosed ). All NBFCs and RNBCs are advised to update the consolidated list of individuals/entities. Before opening any new account, it should be ensured that the name/s of the proposed customer does not appear in the list, further NBFCs and RNBCs should scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals included in the list.
The complete details of the consolidated list is available on the UN website:
http://www.un.org/sc/committees/1267/consolist.shtml
Yours faithfully,
(Uma Subramaniam)
Chief General Manager-in-Charge
Encl:as above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2010-11/528 · issued 16 May 2011. The plain-English explanation above is BankPulse’s own independent summary.
Screen all new account applications against the updated list before onboarding.
📜 Compliance
Update your internal databases with the latest consolidated list from the UN 1267 Committee website.
Conduct a thorough review of all existing accounts to identify any linked to listed individuals or entities.
Report any matches to the appropriate authorities as per regulatory guidelines.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are a Compliance officer at a bank this circular applies to (All Non-Banking Financial Companies (NBFCs), All Residuary Non-Banking Companies (RNBCs)), your first concrete step on “NBFCs Must Screen Accounts Against Updated UN Terror List” is: “Update your internal databases with the latest consolidated list from the UN 1267 Committee website.” (RBI issued this 16 May 2011).
Circular: RBI/2010-11/528 -- NBFCs Must Screen Accounts Against Updated UN Terror List
Issued: 16 May 2011
Action required: Update your internal databases with the latest consolidated list from the UN 1267 Committee website.
Action required: Screen all new account applications against the updated list before onboarding.
Action required: Conduct a thorough review of all existing accounts to identify any linked to listed individuals or entities.
Action required: Report any matches to the appropriate authorities as per regulatory guidelines.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=6414&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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